2005 (9) TMI 535 - AT - Income Tax

Extract:
.......e allowed, the explanation of Rs. 18 lakhs representing the finance charges and sales tax on hire purchase. This ground of appeal becomes infructuous as it is held that the appellant is entitled to depreciation on the value of the asset capitalised. The capitalised value includes the sum of Rs. 18 lakhs. In the result, the appeal is partly allowed.